Creative Extra: Pricing

Getting your pricing right means more sales.

Creative Extra: Pricing Image

Pricing

It’s important to get your pricing right. Get it wrong and you’ll lose work and see your profits tumble.

You need a clear strategy for agreeing on the right fees – with margins that provide the cash flow and profits that the agency needs to succeed.

The solution – get your fees right from the start

The key here is to understand the underlying value you bring to a client.

You need to cover time and resources, and choose a price that gives you the profits you need for improved cash flow. But you also need to price for the value you add.

8 ways to improve your pricing strategy:

  • Don’t give away too much for free
  • Don’t sell your services too cheaply
  • Don’t fit the fee to what the client can afford
  • Don’t deliver a sub-standard project to an unworkable budget
  • Have a clear proposal document
  • Outline the scope of the project in depth
  • Make it clear what the client must pay and when
  • Be sure to charge for extra work at a proper rate